Which States Are Good, and Bad, for Taxes?

Vector,Usa,Colors,Map,With,Borders,Of,States,And,Shorts

How attached are you to the state you live in? Although most people would rather not relocate, where a person lives can actually make a huge difference in his or her tax bill. That’s because Kiplinger recently released its list of the most and least “tax-friendly” states when it comes to taxes. The business publisher used three important tax factors to determine their results, including state income tax, gas tax and sales tax. Here’s what they found.

If you live in Delaware then chances are you’re happier than most about your tax bill. With an income tax coming in between 2.2 percent to 6.6 percent, along with no sales tax and well below average gas taxes, Delaware was number one on the list of most friendly tax states. Wyoming, Louisiana, Mississippi and Alabama were also on the friendliest list.

Meanwhile the news is not so good if you live in California. With an income tax reaching as high as 13 percent for the top earners, a 7.5 percent sales tax and a gas tax coming in at $.053, the golden state is number one on the list of least friendly tax states. Other states that will keep your tax bill high include New York, Connecticut and New Jersey. Click here to see the entire lists.

Everyone has to pay taxes, but you can click here to learn how GROCO can help you save on your taxes no matter which state you live in. Call us today at 1-877-CPA-2006.

Posted in ,
Nevada Set to Give Tesla Motors Huge Tax Deal; More Americans Are Renouncing Citizenship Due to Tax Rules; Investing for Growth

Investing for Growth

Investing for Growth When investing your money for long-term growth, it’s total return (change in market value plus reinvested dividends and interest) that counts. Since 1926 the compound annual return on stocks has been a bit better than 11% a year. The return on bonds has been about half as much, or 5% to 6%…

Nevada Set to Give Tesla Motors Huge Tax Deal; More Americans Are Renouncing Citizenship Due to Tax Rules; Investing for Growth

Nevada Set to Give Tesla Motors Huge Tax Deal

Nevada Set to Give Tesla Motors Huge Tax Deal By Alan Olsen One of the world’s most popular new car companies continues to make waves as it works to not only redefine how cars are made and run, but also change the way cars are sold. The latest move by Tesla Motors is not only…

Tips for Helping You Beat Those Annoying Fees and Taxes

Tips for Helping You Beat Those Annoying Fees and Taxes

Tips for Helping You Beat Those Annoying Fees and Taxes “How do I beat all of those bothersome taxes and fees and get more return on my investments?” It’s a question that almost all investors ask, but it’s one that many people never get answered. In order to get the most out of your investment…

Most Expensive Cars of 2017

Most Expensive Cars of 2017

Most Expensive Cars of 2017 Are you in the market for a new car this year? Need some slick new wheels to impress your friends? Maybe you want to add to your already impressive collection, or find the right piece to start a new one. Whatever the case, if you’re looking for a new set…